RE CHEUNG KWOK LEUNG

RE CHEUNG KWOK LEUNG

The court concluded that because the judgment debt was long due, prior adjournments had failed to produce payment and the debtors gave no reliable indication when payment would be made, there was no valid reason to adjourn further; therefore bankruptcy orders should be made with costs for both petitions.

Citation
RE CHEUNG KWOK LEUNG
Parties
Petitioner: Hang Seng Bank Limited; Debtor: Cheung Kwok Ming; Debtor: Cheung Kwok Leung
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
11 June 2007
Case Number
HCB1476/2007
Procedural Posture
Bankruptcy Proceedings / Judgment
Outcome
Bankruptcy orders made in respect of both petitions
Legal Topics
Bankruptcy Petition, Adjournment, Judgment Debt, Bankruptcy Order, Costs
Source Language
EN
Bankruptcy Law Insolvency Bankruptcy Petition Adjournment Judgment Debt Bankruptcy Order Costs

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Parties

Hang Seng Bank Limited

Petitioner

Cheung Kwok Ming

Debtor

Cheung Kwok Leung

Debtor

Procedural Posture

Bankruptcy Proceedings / Judgment

Legal Issues

  1. 1 Whether the bankruptcy petitions should be adjourned pending payment by the debtors
  2. 2 Whether there is sufficient prospect of payment to justify further adjournment

Ratio Decidendi

The court concluded that because the judgment debt was long due, prior adjournments had failed to produce payment and the debtors gave no reliable indication when payment would be made, there was no valid reason to adjourn further; therefore bankruptcy orders should be made with costs for both petitions.

Court Disposition

Bankruptcy orders made in respect of both petitions

Orders

  • Bankruptcy order in HCB 1475/2007 (Re: Cheung Kwok Ming)
  • Bankruptcy order in HCB 1476/2007 (Re: Cheung Kwok Leung)